Ather Energy announced its highest-ever quarterly revenue of ₹995.7 crore in Q3 FY26, with EBITDA improving by 1,600 bps YoY to -3%. Adjusted Gross Margin jumped 111% YoY to ₹251.3 crore. The company recorded its highest-ever quarterly volumes of 67,851 units, representing a 50% YoY growth. Ather Energy’s pan-India market share expanded to 18.8%.
Financial Performance Overview
Ather Energy reported a total income of ₹995.7 crore for the quarter ended December 2025 (Q3 FY26), reflecting a 53% YoY increase. This growth was driven by robust volume increases and rising non-vehicle revenue, which includes software subscriptions, charging, accessories, spares, and service, constituting 14% of revenue.
Margin Expansion
The company experienced a significant increase in margins, with Adjusted Gross Margin (AGM) reaching ₹251.3 crore in Q3 FY26, up 111% YoY. The EBITDA margin narrowed to -3%, driven by improved unit economics, disciplined cost management, and operating leverage.
Market Share and Expansion
Ather Energy’s pan-India market share increased to 18.8% in Q3 FY26. The company registered its highest-ever monthly registrations of 30.9k units, translating to a 20% market share during the festive period. South India remains Ather’s strongest region with a 24.4% market share. Middle India saw its market share almost double to 17.4% from 8.8% in Q3 FY25.
Ecosystem and Infrastructure Growth
Ather Energy added 76 new Experience Centres (ECs) in Q3, expanding its national network to 600 ECs. Adoption of AtherStack Pro remained strong, with 91% of customers opting for it. The Ather Grid network expanded to 4,357 fast-charging points and neighbourhood chargers across India, Nepal, and Sri Lanka.
Source: BSE
